Rempart Asset Management Inc. Sells 22,775 Shares of Brookfield Renewable Corporation $BEPC

Rempart Asset Management Inc. lowered its position in Brookfield Renewable Corporation (NYSE:BEPC) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 333,625 shares of the company’s stock after selling 22,775 shares during the period. Brookfield Renewable accounts for 2.4% of Rempart Asset Management Inc.’s portfolio, making the stock its 22nd largest holding. Rempart Asset Management Inc. owned 0.23% of Brookfield Renewable worth $12,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in Brookfield Renewable by 191.5% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $35,000 after acquiring an additional 655 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Brookfield Renewable by 88.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after purchasing an additional 543 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Brookfield Renewable in the 2nd quarter valued at $42,000. Farther Finance Advisors LLC lifted its stake in shares of Brookfield Renewable by 180.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company’s stock valued at $58,000 after purchasing an additional 1,091 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Brookfield Renewable by 196.4% in the fourth quarter. GAMMA Investing LLC now owns 1,832 shares of the company’s stock worth $70,000 after purchasing an additional 1,214 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Price Performance

NYSE BEPC opened at $39.81 on Thursday. Brookfield Renewable Corporation has a 1 year low of $23.73 and a 1 year high of $45.18. The company has a fifty day simple moving average of $41.20 and a 200 day simple moving average of $39.75. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.35. The company has a market cap of $5.79 billion, a P/E ratio of -44.73 and a beta of 1.24.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 3.9%. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio (DPR) is presently -176.40%.

Wall Street Analyst Weigh In

Several research firms have commented on BEPC. Morgan Stanley reissued an “underweight” rating and set a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a research report on Monday. Wall Street Zen raised Brookfield Renewable from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Barclays upped their price target on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.50.

About Brookfield Renewable

Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company’s operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.